Billionaire Tells Americans to Prepare For 'Financial Ruin'
Friday, 04 Jul 2014 11:07 PM
By Newsmax Wires
The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin.
That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during a recent appearance on Fox News’ “On the Record with Greta Van Susteren.”
According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.”
He goes on to point out that the downgrade of U.S. debt is inevitable.
“We are going up to $16 trillion [in debt] very soon, and it’s going to be a lot higher than that before he gets finished. When you have [debt] in the $21-$22 trillion, you are talking about a downgrade no matter how you cut it.”
Ballooning debt and a credit downgrade aren’t Trump’s only worries for this country. He says that the official unemployment rate of 8.2 percent “isn’t a real number” and that the real figure is closer to 15 percent to 16 percent. He even mentioned that some believe the unemployment rate to be as high as 21 percent.
“Right now, frankly, the country isn’t doing well,” Trump added, “Recession may be a nice word.”
While 15 percent to 16 percent unemployment, a looming credit downgrade, and ballooning debt are a bleak outlook for the United States, they are hardly as alarming as the scenario laid out by another economist.
Without earning celebrity status or having his own television show, Robert Wiedemer did something else that grabbed headlines across the country: He accurately predicted the economic collapse that almost sank the United States.
In 2006, Wiedemer and a team of economists foresaw the coming collapse of the U.S. housing market, equity markets, private debt, and consumer spending, and published their findings in the book America’s Bubble Economy.
Editor’s Note: See the controversial video where Wiedemer makes his claims.
But Wiedemer’s outlook for the U.S. economy today makes Trump’s observations seem almost optimistic.
Where Trump sees ballooning debt and a credit downgrade, Wiedemer sees much more widespread economic destruction.
In a recent interview for his newest book Aftershock, Wiedemer says, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.”
When the host questioned such wild claims, Wiedemer unapologetically displayed shocking charts backing up his allegations, and then ended his argument with, “You see, the medicine will become the poison.”
The interview has become a wake-up call for those unprepared (or unwilling) to acknowledge an ugly truth: The country’s financial “rescue” devised in Washington has failed miserably.
Editor’s Note: See the 5 signs the stock market will collapse in 2014.
The blame lies squarely on those whose job it was to avoid the exact situation we find ourselves in, including current Federal Reserve Chairman Ben Bernanke and former Chairman Alan Greenspan, tasked with preventing financial meltdowns and keeping the nation’s economy strong through monetary and credit policies.
At one point, Wiedemer even calls out Bernanke, saying that his “money from heaven will be the path to hell.”
But it’s not just the grim predictions that are causing the sensation; rather, it’s the comprehensive blueprint for economic survival that’s really commanding global attention.
The interview offers realistic, step-by-step solutions that the average hard-working American can easily follow.
The overwhelming amount of feedback to publicize the interview, initially screened for a private audience, came with consequences as various online networks repeatedly shut it down and affiliates refused to house the content.
Bernanke and Greenspan were not about to support Wiedemer publicly, nor were the mainstream media.
“People were sitting up and taking notice, and they begged us to make the interview public so they could easily share it,” said Newsmax Financial Publisher Aaron DeHoog, “but unfortunately, it kept getting pulled.”
“Our real concern,” DeHoog added, “is what if only half of Wiedemer’s predictions come true?
“That’s a scary thought for sure. But we want the average American to be prepared, and that is why we will continue to push this video to as many outlets as we can. We want the word to spread.”
My Comments:
Based on my last depression article, I have predicted a 16-year depression commencing Mar 2009, ending 2025. That's based on the 1930's great depression ending in a world war II in 1945, a total of 15 years. I was marginally wrong. As the world wars killed loads of people. The economy grew because there were not enough people manning the post-war posts. This time we don't have such luxury. The people are still around and still as plenty fighting for the same small food pie. This depression is going to last much much longer.
Let's restart the argument:
Baby-boomers started their life in 1946 and their major birth-rate did not stopped till 1964, a total of 18 years. By 2011, the first baby-boomers would have reached retirement age of 65 years old. So for the next 18 years, i.e., 2029, the last of the baby boomers would have reached retirement age too. During this major period, most of these baby boomers would need to liquidate their properties to pay taxes and continued lifestyle.
The USA has no choice but to import more immigrants and print more money to pay for the health care of these aged retirees. This is a major headache for the government. This group of retirees simply get paid pension, eat, sleep and shit and no taxes, but they still get free health care.
So from 2014 to 2029, we still have another total of 15 years of depression to go.
Trump and gang are doomsayers. What they said is true but they are too famous and when they comment, people listen and thus, people start to adjust and hence, no true depression will come.
When this happens, the economy is going to get great inflation and low property price, people will tighten and not spend, i.e., becoming a fucken.
That's when we must collect properties.
Yeah ... I got news that I can get a semi-detached house or detached house for a song. I am so happy. Hopefully can transact. At the same time, another gal just bought a detached house for me at 30k and give it to me as her dowry. I am not a cheapo you know. She's so presumptuous.
Another type of property one should collect is death property. Most children are already working hard in cities. So when their parents died, they sell their ancestry homes and lands away. I have collected a few of these already. Very good prices. Remember always, NO LOANS, PLEASE.
Inflationary pressure will keep the property prices from diving. In fact, it may not even change. But, the cash will get worthless. So by buying it at current prices, the deal is still perfect. Do aim for fire sale though. So far, my deals have been the best fire and death sales. If I can do it, so can any one. It is a matter of getting it right. There is no need to time the purchase. Just go and buy them. If the owner is asshole, just walk away. I cut deals at 40-80% off the list price. I don't care. If they think, they can win and still can get the deal at their hope-against-hope price. Well, good luck!
Since at the same time, the banks are cautious. There would be little or no bank loans involved. With that, the existing owners would be lovely. I just enjoy the look in their eyes. Vacant. Yeah! That's victory to me as I never ever able to get them to suck my cock and work for me regardless how good I pay them. LOL. Well, whites are assholes, but so will be the yellowskins. They are more asshole than the worst whiteskins.
Today too. A brownskin cried twice in front of me. She asked me to love her deep deep. But, she has no money. She offered to suck my cock. Why would I want to fuck an air-head. She must be delusionally. A fuck is only worth 100bucks per pop, nothing more. Just can't believe that, she wants her pussy gold-plated.
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